Market View 3 August 2010

Wall Street surged in overnight trade as
"U.S. stocks closed at their highest level in
10 weeks on Monday and the S&P 500 pierced
key technical levels as a weaker U.S. dollar lifted
the energy and raw materials sectors.
Strong results in Europe from BNP Paribas SA and
HSBC Plc added to the upbeat tone and lifted U.S.
bank stocks. JPMorgan Chase & Co rose 3.4 percent to
$41.64 and the KBW Bank index .BKX gained 3.2 percent."
Dow surged 208 points, S&P gained 24 points and Nasdaq
advanced 41 points.

Yesterday some readers asked me about Sound Global's
fall and when they can buy it again. It is very normal
that after such recent surge that a profit-taking surfaced.
In fact, I also took profits when my trailing stop was triggered.
I may not have sold it at a day-high, but at least I enjoyed
much of the surge's range. I will only be interested when
it come back near 81cts. It will be well-supported at 77cts
and if the support is breached, it will be back to square-one
hanging around the 73.5cts level.

Most stocks will opened strongly today, but only
selected stocks will keep moving up throughout the
day. We got a few stocks that are heading towards
the $1 and they are CSE Global, CWT, but they are
of a higher risk. Genting looks good to continue upside
but it will face resistance around the 1.34 region.
I mentioned that I will be interested with PEC when it
is near 87cts level, and at current price, the radar is on.


Enter any position with a Cut-loss level & Trailing Stop,
and Please practice strict (Risk)Money-management.
If you don't like what you see in the market,
simply don't trade.

If you have Skype, and would like to chat with me about
stocks and all others, you can ring me at my
email address: stocklobang@yahoo.com
I have currently a couple of members skyping with me
everyday,and they are having good trading results.

As usual,
Stay Alert but be Aggressive too.
Audentes Fortuna Juvat !!

市场生存座右铭: 风林火山